taxpayers aren t gonna pay our bills. its offensive, it actually is already having negative economic affects. we see interest rates on treasury bills that are scheduled to mature at the beginning of june. trading like a premium of well over a percentage point. one and a quarter percentage points. that s crazy. that s a direct cost to the u.s. taxpayer. absolutely, when you take the debt ceiling out of these negotiations. can you just dial in on that for me. i think, as we wait for the president to take the podium in the roosevelt room, i think it s important to remind ourselves of the context, wendy, what were to happen if this deal does not pass before the deadline? it s not at all assured. it is going to be a messy week. the fact that this bill it there s no billion. the fact that the congress of the deal look we more reasonable than i feared they would look.
house freedom caucus members on board, or enough of them at least, as sahil said, then you can see the goalposts getting a little bit closer to pass the house. before it heads to the senate, where we ve already heard some senate republicans object to parts of the bill. that s going to be a whole other rodeo. alicia? to that point, sahil, we re supposed to be here talking about the debt limit, what republicans have succeeded in doing, is making this a budgetary fight. catherine with the washington post tweeted as, quote, not yet to clear this deal is so different from whatever budget deal what have happened in normal appropriations process. was this process tied to the debt limit necessary for house republicans to achieve their goals? and perhaps more important question, could this help them move the goalposts for other items on their agenda? yeah, it s a great question, alicia. coming into this, president biden in the white house insisted that there was never
they got a two-year deal here that takes us off the table until after the 2024 election, a two-year deal, everything reset to 2025. all these targets republicans are talking about, for spending, or nonbinding. that, of course, they protect the president s inflation reduction act, his student loan provisions, climate change when measures, a lot of demagogic and say, okay, compared to what we thought, a week or two ago, this is not a better deal. we re gonna help her from some of those democrats later in the show, julia, i ve to ask you on the republican side, congressman jim jordan, of course, a founder of the house freedom caucus, seeming pretty optimistic about this deal, given the amount of attention that is going to the ultraconservative wing of the republican party. what s the significance of someone like jim jordan throwing his weight behind this bill? well, if jim jordan can get the rest of his house freedom caucus on board with this bill, it would be a gift to speaker mcca
that agreement now goes to the united states house and to the senate. i strongly urge you both, both chambers, to pass that agreement. let s keep moving forward on meeting our obligations and building the strongest economy in history of the world. i ll take a few questions. president, you said at the beginning the debt ceiling was not negotiable. not negotiate at ceiling, here s the deal. they passed, they said there they pass the debt ceiling, and they said they d only do it on condition that have all these cuts in it. i said, i m not gonna do that, you pass the debt ceiling, period. i ll negotiate with you on the cuts, what you say what s gonna happen, or what the budgets gonna look like. that s what we re negotiating, in order to get to them deciding that they re going to go along with a new debt ceiling. meaning, it s not attached to something totally different, attached than was attached before.